MEI Pharma (NASDAQ:MEIP) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report report published on Wednesday. The firm issued a buy rating on the stock.

MEI Pharma Price Performance

Shares of NASDAQ MEIP opened at $2.61 on Wednesday. MEI Pharma has a 1 year low of $2.30 and a 1 year high of $4.56. The company has a market capitalization of $17.35 million, a P/E ratio of -0.45 and a beta of 0.79. The company has a 50 day simple moving average of $2.67 and a 200-day simple moving average of $2.87.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. As a group, research analysts expect that MEI Pharma will post -5.1 EPS for the current year.

Institutional Trading of MEI Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MEIP. Virtu Financial LLC acquired a new stake in shares of MEI Pharma in the fourth quarter valued at $26,000. Corsair Capital Management L.P. acquired a new position in MEI Pharma during the 3rd quarter worth about $69,000. Toronto Dominion Bank purchased a new position in MEI Pharma during the 4th quarter valued at about $62,000. World Investment Advisors LLC acquired a new position in MEI Pharma in the 3rd quarter valued at about $71,000. Finally, Northern Trust Corp grew its position in MEI Pharma by 54.5% in the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after acquiring an additional 12,561 shares in the last quarter. Hedge funds and other institutional investors own 52.38% of the company’s stock.

MEI Pharma Company Profile

MEI Pharma, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor for the treatment of patients with relapsed/refractory follicular lymphoma; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase I clinical trial for acute myeloid leukemia and B-cell malignancies.